Bangor Savings Bank grew its holdings in Prudential Financial, Inc. (NYSE:PRU – Free Report) by 6.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,376 shares of the financial services provider’s stock after acquiring an additional 613 shares during the period. Bangor Savings Bank’s holdings in Prudential Financial were worth $915,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in shares of Prudential Financial by 148.0% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 6,801 shares of the financial services provider’s stock valued at $563,000 after acquiring an additional 4,059 shares during the last quarter. Wealthfront Advisers LLC boosted its holdings in shares of Prudential Financial by 7.3% in the 1st quarter. Wealthfront Advisers LLC now owns 68,271 shares of the financial services provider’s stock valued at $5,649,000 after acquiring an additional 4,653 shares during the last quarter. Pictet Asset Management SA boosted its holdings in shares of Prudential Financial by 2.4% in the 1st quarter. Pictet Asset Management SA now owns 197,301 shares of the financial services provider’s stock valued at $16,325,000 after acquiring an additional 4,601 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Prudential Financial by 3.0% during the first quarter. Parallel Advisors LLC now owns 5,411 shares of the financial services provider’s stock worth $448,000 after buying an additional 156 shares in the last quarter. Finally, Pinebridge Investments L.P. purchased a new stake in Prudential Financial during the fourth quarter worth $123,000. 54.92% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on PRU shares. Morgan Stanley reissued an “equal weight” rating and set a $102.00 price target on shares of Prudential Financial in a report on Wednesday, August 2nd. Piper Sandler increased their price target on shares of Prudential Financial from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, August 3rd. Jefferies Financial Group raised shares of Prudential Financial from an “underperform” rating to a “hold” rating and increased their price target for the stock from $70.00 to $93.00 in a report on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and set a $100.00 price target on shares of Prudential Financial in a report on Friday, September 8th. Finally, Wells Fargo & Company increased their price target on shares of Prudential Financial from $89.00 to $92.00 and gave the stock an “underweight” rating in a report on Tuesday, August 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $102.73.
Prudential Financial Price Performance
NYSE:PRU traded up $0.11 during trading hours on Friday, reaching $99.25. 499,845 shares of the company were exchanged, compared to its average volume of 2,044,328. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.64. The stock’s 50-day moving average is $94.26 and its 200-day moving average is $88.04. The firm has a market cap of $36.03 billion, a PE ratio of 33.05, a price-to-earnings-growth ratio of 0.77 and a beta of 1.41. Prudential Financial, Inc. has a twelve month low of $75.37 and a twelve month high of $110.96.
Prudential Financial (NYSE:PRU – Get Free Report) last issued its earnings results on Tuesday, August 1st. The financial services provider reported $2.94 EPS for the quarter, missing analysts’ consensus estimates of $3.04 by ($0.10). The business had revenue of $12.64 billion during the quarter, compared to analyst estimates of $12.68 billion. Prudential Financial had a net margin of 1.82% and a return on equity of 15.73%. During the same quarter last year, the company earned $1.74 earnings per share. On average, sell-side analysts anticipate that Prudential Financial, Inc. will post 11.82 earnings per share for the current fiscal year.
Prudential Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Tuesday, August 22nd were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date was Monday, August 21st. Prudential Financial’s dividend payout ratio (DPR) is 166.67%.
About Prudential Financial
Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, and International Businesses segments.
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